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koolbreez
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You better check with the superfund requirements first on what, and where you can invest. (and don't knock Telstra, or I'll have my good friend make your life with them hell....lolol. He's a director with them now in systems administration, coming up through the accounts receivable avenue.). If they will let you invest in Thailand then it is pretty easy.
The only thing you can buy are condos with full title. You will need a bank account to transfer your investment money into. If you are looking to get these to qualify as part of your banking requirement for a retirement visa when you turn 50, then they also have to be approved condos, or they won't qualify.
If you are trying to set up a property company so you can get a type "O" visa, then forget it. You won't be able to justify hiring the minimum number of Thais you have to employ to get your work permit. I think it is 5 now. Then you also have to capitalize the company with bt1.2million for each work permit.
To do this, and get the visa, and work permit your best bet is to buy a small 8-12 room hotel. Then you might be able to pull it off, but you will have to actually work, or it will go under, but also remember that the only thing YOU can buy outright are condos. So you have to set up a business with fake Thai partners owning 51%.
You might be able to offset the money requirement for your retirement visa when you turn 50 with your property purchases, but that is up to the government if they will still qualify at that time, and you might not want to risk that with the Thai partner you will have to have owning 51% if you set it up as a business. This is usually set up as a proxy voting position, but they are clamping down on dummy corporations set up this way.
Your best bet, and I have friends that do this, is to just buy condos for rental in your name, and forget about trying to set a business up. You reinvest your rents into more properties, and upkeep, pay your taxes, and have an income. Get your visa a different way, if you aren't still teaching.
They are all cash purchases as you can not finance anything. The best areas to buy in, and stay rented are around the universities. Students need rooms to live in during school.
I have a friend aptly nicknamed condotown that does this, when you get serious about buying, that I can introduce you to. He would be willing to help you if you check out as ligitimate when he investigates you. He doesn't waste his time on someone that isn't capable of doing it right, or you can use SunBeltAsia. They are in that business. From setting businesses up, to having properties to buy.
Your biggest obstacle will be if you ever decide to sell any of them. Condos do not sell well for a profit, unless you get extremely lucky. All your investment recoup, and profit is in the form of rents, and it is slow. Good investment properties are low rent condos, not high rental places.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 8:55 am on April 2, 2011
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